May 12, 2013, 8:00 AM EDT
Give credit to Chris Hansen and his Seattle group — as well as the Maloof family who want to sell the Kings to them — because they have not given up.
After the NBA’s relocation committee voted unanimously to reject the idea of moving the Sacramento Kings to Seattle — essentially killing the sale of the team to the Hansen’s Seattle group — most groups would have retreated to fight another day.
This group didn’t. First Hansen’s team– which incudes Microsoft CEO Steve Balmer, who may be taking a larger role with the group — upped its valuation and bid for the team by $75 million.
Instead, the cash-strapped Maloofs have made a “backup” agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise….
Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma moved from Seattle, they paid a $30 million total fee to the other owners.
To consider these incredible new figures, the NBA relocation committee is planning to re-evaluate the Hansen-Ballmer offer and has scheduled another meeting ahead of next Tuesday’s full owners meeting in Dallas, sources said.
It’s an interesting plan… but it’s not going to work.
Well, unless the relocation committee changes its mind when it talks, but I wouldn’t bet on it. Their vote was always about what Sacramento did right in putting together a counter offer led by Silicon Valley billionaire Vivek Ranadive, professional leagues want cities that fight to keep their teams. It wasn’t about Seattle, other than they were good leverage.
The big problem with this “backup plan” is the majority of NBA owners have to approve the sale of even a minority of any team. And there is no way the owners are going to approve a sale of 20 percent of a team to a group clearly looking to move the team out of town when they have rejected that move already.
The Maloofs are under no legal obligation to sell their team to the Sacramento group. However, the family is reportedly cash strapped so they likely will have no choice eventually, especially if they can’t get a cash infusion from the Seattle group.
If you think what the Seattle group is trying will work, I think the penultimate paragraph of Windhost’s article sums up neatly why I would argue it will not.
Throughout this tedious process, the Maloofs and the Hansen-Ballmer group have worked without involving the league office and powerful NBA commissioner David Stern. Meanwhile, the Sacramento group and Mayor Kevin Johnson have worked with Stern every step of the way. That partnership seems to have helped the city and Ranadive get into favorable position with other owners.
And what David Stern wants….
Aug 1, 2014, 8:00 AM EDT
Bidding starts at $35,000. Which we all have just lying around.
Aug 1, 2014, 1:35 AM EDT
“Nothing to see here. Move along.”
Aug 1, 2014, 12:05 AM EDT
Bosh was very close to leaving Miami in free agency,
Klay Thompson, Kyle Korver engage in three-point shooting contest at USA Basketball mini-camp (VIDEO)
Jul 31, 2014, 11:05 PM EDT
Klay Thompson and Kyle Korver engaged in a shooting contest at USA Basketball mini-camp in Vegas.
Jul 31, 2014, 10:05 PM EDT
Mason Plumlee and DeMarcus Cousins will be on opposing teams in Friday’s exhibition.
Derrick Rose was aggressive in pursuit of free agent Pau Gasol. Recruiting Carmelo Anthony? Not so much.
Jul 31, 2014, 9:04 PM EDT
Tensions reportedly exist between Rose and the Bulls front office.
Jul 31, 2014, 8:01 PM EDT
USA roster has more than enough talent, so it can afford to sacrifice some to get positive attitudes in place.
If traded before World Cup starts could Kevin Love still play for USA? Colangelo said it’s possible.
Jul 31, 2014, 6:51 PM EDT
Don’t bet on it happening. But it’s not impossible.
Jul 31, 2014, 5:59 PM EDT
It’s the memory of a lifetime… even if you get embarrassed.
Jul 31, 2014, 5:11 PM EDT
Mark Madsen and Paul Pressey also reportedly candidates for Byron Scott’s staff
Jul 31, 2014, 4:31 PM EDT
Watch this and remember why you love basketball.
Jul 31, 2014, 3:50 PM EDT
Wall raising expectations after Wizards met last season’s playoff goal
Jul 31, 2014, 3:05 PM EDT
Jul 31, 2014, 2:22 PM EDT
Does China really know what it’s getting here?
Jul 31, 2014, 1:51 PM EDT
As tight as he is with Kidd, do you really think Payton would choose Milwaukee over Los Angeles?
Jul 31, 2014, 1:10 PM EDT
Milwaukee, with Damien Inglis in limbo, now facing roster crunch
Jul 31, 2014, 12:33 PM EDT
Like most “feuds,” once two rational people sit down and talk for a minute, everything dissipates.
Jul 31, 2014, 11:55 AM EDT
That means he’s signing with the Wizards, right?
Jul 31, 2014, 11:20 AM EDT
Barring another move, Toronto down to one roster spot for Lucas Nogueira or DeAndre Daniels
Jul 31, 2014, 10:41 AM EDT
“We think he’s one of the top players in the league and we need for him to be that five that nobody has.” —Mike Krzyzewski on Anthony Davis
- Bulls owner issues statement refuting rift between Bulls front office, Derrick Rose 8
- If traded before World Cup starts could Kevin Love still play for USA? Colangelo said it’s possible. 2
- Anthony Davis steps into spotlight, is Team USA’s lynchpin 17
- Referee Violet Palmer comes out publicly as gay 45
- Report: Cavaliers last team standing in Kevin Love trade talks 89
- Pat Riley says he didn’t think LeBron was leaving, Heat can turn around quickly 61
- Coach K on Rose: “Derrick’s played great, not good, and hasn’t held anything back” 30
- Report: Anthony Bennett pulled from pro-am by agent, possibly due to his inclusion in Kevin Love trade talks 43